 "NTPC transfers 15 renewable energy assets to NGEL for Rs 10,000 crore")
Power giant NTPC on Tuesday said it has completed the transfer of 15 renewable energy assets to NTPC Green Energy Ltd (NGEL) for a consideration of Rs 10,066.99 crore.
Besides, the company has transferred its entire stake in NTPC Renewable Energy to NGEL for Rs 731.17 crore, according to a regulatory filing.
NTPC said it has completed the transfer of 15 renewable energy assets to NGEL, a wholly-owned subsidiary, through a business transfer agreement executed on July 8, 2022.
The consideration for transferring the 15 assets was Rs 10,066.99 crore, it added.
Further, the company completed the transfer of 100 per cent equity shareholding in NTPC Renewable Energy to NGEL through a share purchase agreement.
The consideration for the stake transfer was Rs 731.17 crore and the pact was executed on July 8, 2022, as per the filing.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)